Waiver
A term referring to one's formal agreement to give up their claim and/or rights.

Wealth management
A type of service that could be offered by the qualified financial advisor that intends to plan and look after one's personal finances, such as investments, policy assignments, etc.

Will
A document stating how one's estate (property, assets, etc) is to be distributed after his death. It is also common to name your children's guardians in the will as well as a person who is to execute the will upon your death (the executor). This document is legally binding.

Will Variation
More commonly known as a Deed of Variation makes it possible for attest the distribution of your estate following your death by the beneficiaries.

Windfall
Money that is unexpectedly received as a result, for example, of successful investment, etc.

Windfall Tax
A type of tax collected by government from the private company or industry higher than average profits. It was introduced in 1997

Winding up
A process, also known as liquidation, leading to the eventual dissolvent of business and involves selling its assets, settling outstanding amounts with its creditors, distributing any remaining assets to its principals.

With Approved Credit (WAC)
A requirement for a purchaser to have enough credit when applying to purchase an item on credit. A company selling an item would normally undertake a credit check to ensure that the purchaser meets the specified requirement.

Withdrawal
Usually means Early Withdrawal and refers to the process of taking your assets from an investment that has a fixed term before this investment has matured. In most cases there is a penalty payable on early withdrawals.

Withdrawal Plan
Often referred to as Systematic Withdrawal Plan. Some lenders offer their customers an opportunity to access their investment by receiving regular payments.

Working Tax Credit
Working Tax Credit is designed for employed and self-employed people who work over 16 hours per week and care for a child or work at least 30 hours per week.

With Profits
A type of investment product whereby a bonus that has been declared at the end of financial year is guaranteed unlike some of the other forms of market investments.

Writ or summons
A legally prescribed document issued by court or certain government department. A way of starting proceedings in court.

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